Sale of Half-Interest in Los Alamitos Race Course Finalized

The partial sale of Los Alamitos Race Course to the quarter horse interests of Ed Allred and R.D. Hubbard was completed Wednesday night when Lloyd Arnold, the current owner, signed the final papers.

All that remains, according to all parties, is “housekeeping paper work” that should be completed next week.

Arnold and Chris Bardis agreed to selling half-interest in 125 acres of track property for $16.5 million.

The half-interest is actually being sold to Quarter Racing Inc. a corporation of which Allred owns 56% of the stock. He has an agreement from minority shareholders to purchase almost all of the remaining stock in the next few weeks. At that point, he will sell one-third of the stock to Hubbard and Arnold separately.